Home Insurance - Frequently Asked Questions

First, let's talk about the building.

In a nutshell: you need enough insurance to replace your entire house.  That means hiring a contractor to rebuild it from scratch.

But, how much is that? It's a hard question, and getting more difficult as the price of labour and material in Calgary keeps rising.

At Braeside Insurance Services Ltd., we will help you calculate your home's replacement cost using a standard formula that is accepted by all our insurance companies.  After we go through that exercise, your insurance company will promise to replace your home as close as humanly possible, even if it turns out to cost more than the amount of coverage that we arrange.

This promise is called " guaranteed replacement coverage", and we include it wherever possible.  There are a few buildings (for example, summer cabins far from a firehall or some older houses) that don't qualify.

All you have to do is be sure that you are giving us accurate information about the size of your home, the type of finishing, and other details.

You also need to stay in touch with us if you make changes to your home...for example, if you finish a basement, or upgrade the flooring.

What don't you have to worry about?  For one thing:  the cost of the land.  It's not going to burn down, so you don't need to insure it.  Nor do we consider your home's market value, because that can change due to factors that have nothing to do with building costs, for example: the view from your front window, or how close you are to shopping and schools.

Would you like us to check your policy? 

Click here for a link to a form that you can either email or fax to us. We'll gladly help you make sure that you have nothing to worry about.

There is still something to talk about:  the contents of your home.  There is only one way to be sure about how much coverage you need for your furniture and other belongings, and that is to do an inventory.  How?  Go through your house, room by room, jotting down a list of the contents and your best estimate of what they would cost to buy, at today's prices, with no time to shop for sales.  Then, add it all up.  Sometimes it can be surprising!  Don't forget things like linens, kitchen equipment, summer and winter wardrobes, and the contents of your garden shed.

If you like, you can send us a copy of your inventory, and we will review it for potential problems (items that may not be covered, or not covered entirely).  At Braeside, we are glad to help.

Please be assured, we will guard your information to protect your privacy.  If you would like to read our privacy policy, please click here.